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Using the direct method , prepare the statement of cash flows for the year ended June 30, 2017. (Amounts to be deducted should be indicated

image text in transcribedimage text in transcribedUsing the direct method, prepare the statement of cash flows for the year ended June 30, 2017. (Amounts to be deducted should be indicated with a minus sign.)

IKIBAN, INC.
Statement of Cash Flows (Direct Method)
For Year Ended June 30, 2017
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net increase (decrease) in cash
Cash balance at prior year-end
Cash balance at current year-end
Required information [The following information applies to the questions displayed below.j The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total asset:s Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings $ 87,500 44,000 51,000 86,500 5,400 220.700 186,900 65,000 63,800 4,400 124,000 27,000 115,000 9,000 $317,700 $292,900 $ 25,000 30,000 15,000 3.800 48,800 30,000 60,000 108,800 6,000 3.400 34,400 64,400 220,000 160,000 24,100 33,300 Total liabilities and equity $317,700 292,900

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